§ 329
Chapter XVII — Special Provisions Relating To Certain Persons
Joint and several liability of partners for tax payable by firm
Income-tax Act, 2025
Any individual who was a partner of a firm during the tax year – and the legal representative of a deceased partner – is personally liable, together with the firm, for any tax, penalty or other sum the firm owes for that year. The same assessment and enforcement rules that apply to the firm also apply to the partners.
📜 Official text of the section +
329. Every person who was, during the tax year, a partner of a firm, and the legal
representative of any such person who is deceased, shall be jointly and severally
liable along with the firm for the amount of tax, penalty or other sum payable by
the firm for the tax year, and all the provisions of this Act, so far as may be, shall
apply to the assessment of such tax or imposition or levy of such penalty or other
sum.
Firm dissolved or business discontinued.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.